Three Generations Benefit from On the Money
LaShawnna was raised by her grandparents, who did not understand enough about money management themselves to guide their grandchildren. "They worked until they were in their 70s," remembers LaShawnna. "I don't want to work until I'm 70."
Lacking an understanding of budgeting, financial planning, and retirement benefits, LaShawnna's financial strategy was simply to spend as little as possible. "People call me tight," she admits, laughing.
In the fall of 2022, LaShawnna enrolled in the On the Money: Finances Made Easy class offered by Literacy for Life for William & Mary's facilities maintenance staff. The class has been life-changing.
"I'm excited!" she raves. "I can see myself getting to where I've always wanted to be." She has established an emergency fund as well as a one-year, three-year, five-year, and twenty-year plan. "That's my retirement fund," she says with a huge smile. "The class showed us how to budget our money so we can live today and still save for tomorrow."
The On the Money class is having an impact far beyond LaShawnna herself. "It's helping the whole family," she says. She shared the lessons with her husband, so they can make informed decisions together, and also with her son, who saw how excited she was and became eager to learn more. "He had a savings account, but he wasn't saving money," LaShawnna laughs. "I told him, 'Son, if you start now, you can imagine how much you're going to have when it's time to retire.'"
She beams as she shares the best part of all: "He has even opened a savings account for my granddaughter."